Big Earnings Week Ahead: Apple, Oracle, Adobe, AeroVironment, and Exxon Mobil in Focus
Markets are entering a shortened week after Monday's Labor Day closure. Investors will be focusing on key earnings reports and inflation data, which could shape the Federal Reserve's September rate decision.
The Consumer Price Index (CPI) report for August is set to release on Friday, with expectations of a stronger-than-expected reading pushing up odds of a rate hike at 57%. The Producer Price Index (PPI) will be released on Thursday, making it crucial for growth stocks.
Apple's annual product launch event on Wednesday is expected to unveil the iPhone 18 Pro and Pro Max, as well as possibly its first foldable iPhone. Oracle and Adobe will report earnings on Thursday, with a focus on AI cloud revenue and Creative Cloud growth, respectively. AeroVironment reports fiscal first-quarter results on Wednesday, while Exxon Mobil remains under scrutiny due to rising U.S.-Iran tensions.
AeroVironment's recent $51 million U.S. Army order for its Switchblade 600 loitering munitions has investors paying close attention to backlog growth and guidance in the current geopolitical climate. Meanwhile, OPEC+ decided to hold its October output policy steady on Sunday, which may support earnings for major producers like Exxon.